Friday, July 12

Workers should upskill or reskill to stay in the job market

Workers should upskill or reskill to stay in the job market

In order to stay relevant and competitive in the post-pandemic world, employees need to brush up their skills or learn new skills to accommodate the job market, according to a survey by United Overseas Bank (UOB).

According to the New Straits Times, UOB Malaysia said the widespread view comes amid expectations that it would be tough to secure a new job because of the economic recession.

Based on the recent UOB Consumer Sentiment Study, 90% or nine out of ten Malaysian employees recognize the need to reskill or to upskill.

“Meanwhile, 85 percent of Malaysian respondents believe that companies will prefer hiring people who can perform multiple functions, and 83 percent think employers will reduce headcount by stepping up their digitalisation efforts,” it said.

The bank added that a majority of the respondents, or 78% of them foreseeing companies undertaking retrenchment in order to minimize costs.

“Among the different age groups surveyed, concerns around job security are felt most strongly by generation Z — those between the ages of 18 and 23,” according to the statement.

Lai Tak Ming, UOB Malaysia’s executive director and country head of Human Resources said that there is a need for companies to have an agile and adaptable workforce to adjust to the ever-changing working conditions due to uncertainties and disruptions.

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